Question

If you bought a stock last year for a price of $67, and it has risen 12% since then, how much is the stock worth now, to the nearest cent?

Answer 1

Answer:

The stock is worth $75.04 now.

Step-by-step explanation:

This question can be solved using a rule of three.

Last years' value was $67, which is 100% = 1.

Now, the value is x, and it is a rise of 12%, so it is 100+12 = 112% = 1.12.

Then

$67 - 1

$x - 1.12

x = 67*1.12 = 75.04

The stock is worth $75.04 now.